USL

Central bank officials: Continuously apply high pressure to combat money laundering crimes, and constantly enhance the quality and efficiency of investigation, prosecution, and trial of money laundering crimes

ChainCatcher news, according to a report by The Paper, at the 14th China Anti-Money Laundering Summit and the 4th Lujiazui National Financial Security Summit, Wang Jing, Deputy Director of the Anti-Money Laundering Bureau of the People's Bank of China, pointed out that in recent years, national public security, prosecution, and judicial authorities have continuously increased their efforts to combat money laundering crimes, with the number of cases investigated, prosecuted, and tried steadily rising.With the emergence of new technologies and new business models, criminals are constantly innovating their money laundering methods, using illegal payment platforms, virtual currencies, e-commerce or live streaming platforms, game currencies, and other means to transfer and conceal criminal funds. They also mix various payment methods such as bank accounts, virtual currencies, and cash, making money laundering techniques more diverse and covert, which increases the difficulty of detection and investigation.Wang Jing emphasized that a high-pressure stance must be maintained in the ongoing crackdown on money laundering crimes, continuously improving the quality and efficiency of investigations, prosecutions, and trials.

Bloomberg: The Italian government plans to increase the tax rate on cryptocurrency transactions to 28%, instead of the previously proposed 42%

ChainCatcher news, according to Bloomberg, informed sources revealed that the government led by Italian Prime Minister Giorgia Meloni may approve the proposal from coalition partners to reduce the tax increase on cryptocurrency transactions.A copy of the proposal shows that as the junior partner in Meloni's ruling coalition, The League has put forward an amendment to limit the tax rate on crypto transactions to 28%, while the budget proposed last month initially suggested an increase to 42%. The current tax rate is 26%.Cryptocurrency executives have stated that the proposed tax rate is too high and would make the local industry less competitive compared to other EU countries. The EU is preparing to fully adopt its first comprehensive cryptocurrency regulation across the bloc, known as "MiCA," by the end of this year.Additionally, another ruling coalition party, Forza Italia, founded by the late Silvio Berlusconi, has proposed another amendment aimed at completely eliminating the tax increase and removing the tax exemption for earnings of €2,000 ($2,120) or less.As part of the coalition's proposed amendments, Italy will establish a permanent working group composed of digital asset companies and consumer associations to educate investors about cryptocurrency. Two informed sources indicated that the government is likely to approve The League's proposal, although no final decision has been made, and it may be subject to modifications.
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